Federal Reserve’s top banking regulator proposes changes including setting aside more money as a cushion to protect against losses. Read on
“These changes would increase capital requirements overall, but I want to emphasize that they would principally raise capital requirements for the largest, most complex banks,” he said in a speech at the Bipartisan Policy Center in Washington. “We intend to consider comments carefully and any changes would be implemented with an appropriate phase-in,” he said, adding that most banks already have enough capital to meet the new requirements.
As part of the plan, the largest banks would have to hold an extra 2 percentage points of capital — or an extra $2 of capital for every $100 in risk-weighted assets. He added said that “enhanced capital rules” should apply to banks and bank holding companies with more than $100 billion in assets. Currently, such restrictions apply to firms that are globally active or have $700 billion or more in assets, he said.Article content
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